GST Real winners and losers

Automobiles

1. All automobile except tractor (12%) will attract a rate of 28% as opposed to current CST and NCCD of 28%-31%.

2. SUV may drop by 6-10%.

3. Luxury cars to be cheaper at a rate of 43% against the current rate of 55%.

Stocks to watch: Maruti, Eicher Motors, Hero Moto, Bajaj Auto and TVS Motor.

“ The tractor makers were amongst the handful, lobbying for being taxed under GST given the loss on account of excise duty and service tax credits on most of its procurements.”
Amit Sarkar, Partner & Head, Indirect Tax, BDO India

Cigrattes

1. Along with GST rate at 28%, the effective tax would be around 55-60%.

2. Wide range of tax rates prevalent in different states are to be removed.

Stocks to watch: ITC, VST and Godfrey Phillips

White goods

1. ACs, refrigerators and water heaters would attract a higher tax rate.

2. Lower tax to be applied on cookers.

3. Tax slab for sanitary ware, faucets and tiles would be higher at 28% from 18-14%

Stocks to watch: Blue Star, Voltas, Havells, Whirlpool, V-guard, TTK, Prestige, Cera, HSIL, Kajaria and Somany.

Fast-moving consumer goods (FMCG)

1. Soaps, toothpaste, hair oil and malted beverages price is likely to fall by 5-6%

2. Detergent, shampoo, skin cream, chocolate prices may go up.

Stocks to watch: Colgate, Pidilite, Godrej Consumer, HUL, Dabur, Nestle, Varun Beverages and Britannia

Paints

To attract a rate of 28% as opposed to current rate of 24-25%.

Stocks to watch: Asian Paints, Berger, Shalimar, Kansai Nerolac and Akzo Nobel.

Metals and Mining

1. Duty on coal would be reduced to 5% from the current 12% rate.
Lower prices to attract power producers away from imported coal.

2. Lower tax on metal ore.

Stocks to watch: Coal India, GMDC, JSW Steel, Tata Steel, Hindalco and Vedanta

Telecom and financial services

GST rate of 18% for the telecom may appear higher as against the current service tax rate of 15%.
However, these sectors are likely to derive substantial benefits on the input credit front given the eligibility of credit on the goods, which was not the case under the current regime.

Stocks to watch: Bharti Airtel, Idea, Reliance Communications

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18-year-old from Tamil Nadu designs world's lightest satellite

MUMBAI: Eighteen-year-old Rifath Sharook, belonging to a comparatively unknown town of Pallapatti in Tamil Nadu, is all set to break a global space record by launching the lightest satellite in the world, weighing a mere 64 grams.

The satellite, called KalamSat, will be launched by a NASA sounding rocket on June 21 from Wallops Island, a NASA facility. This will be the first time an Indian student's experiment will be flown by NASA.

it will be a sub-orbital flight and post-launch, the mission span will be 240 minutes and the tiny satellite will operate for 12 minutes in a micro-gravity environment of space. "The main role of the satellite will be to demonstrate the performance of 3-D printed carbon fibre," he explained. He said the satellite was selected through a competition called 'Cubes in Space', jointly organised by NASA and a organisation called 'I Doodle Learning'.

The main challenge was to design an experiment to be flown to space which will fit into a four-metre cube weighing exactly 64 grams. "We did a lot of research on different cube satellites all over the world and found ours was the lightest," he said. Rifath said the satellite is made mainly of reinforced carbon fibre polymer. "We obtained some of the components from abroad and some are indigenous

Final rate of GST fixed

NEW DELHI: A four-tier GST tax structure of 5%, 12%, 18% and 28%, with lower rates for essential items and the highest for luxury and de-merits goods that would also attract an additional cess, was decided by the all- powerfulGST Council on Thursday.

With a view to keeping inflation under check, essential items including food, which presently constitute roughly half of the consumer inflation basket, will be taxed at zero rate.

The lowest rate of 5% would be for common use items while there would be two standard rates of 12% and 18% under the Goods and Services Tax (GST) regime targetted to be rolled out from April 1, 2017

Announcing the decisions arrived at the first day of the two-day GST Council meeting, finance minister Arun Jaitley said highest tax slab will be applicable to items which are currently taxed at 30-31% (excise duty plus VAT).

Luxury cars, tobacco and aerated drinks would also be levied with an additional cess on top of the highest tax rate.

The collection from this cess as well as that of the clean energy cess would create a revenue pool which would be used for compensating states for any loss of revenue during the first five years of implementation of GST.

The cess, he said, would be lapsable after five years.

Jaitley said about Rs 50,000 crore would be needed to compensate states for loss of revenue from rollout of GST, which is to subsume a host of central and state taxes like excise duty, service tax and VAT, in the first year.

The four-tier tax structure agreed to has slight modification to the 6%, 12%, 18% and 26% slab that were under discussion at the GST Council last month.

The structure to agreed is a compromise to accommodate demand for highest tax rate of 40% by states like Kerala.

While the Centre proposed to levy a 4% GST on gold, a final decision was put off, Jaitley said.

The long-delayed tax, which would transform Asia's third largest economy into a single market, is expected to boost revenues through better compliance while making life simpler for business that now pay a host of federal and state levies.

Arun Jaitley will seek parliamentary approval for bills later this month that would set the rate and scope of the GST. State assemblies must also approve similar bills for the tax to enter force as planned next April 1.

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